[ravindra]

answer is (750)+455=295 (increase )????

[ravindra]

WHAT THE CORRECT ANSWER PLEASE WITH LITTLE EXPLAIN

Jasbinda has prepared draft financial statements for the year ended 30 November 20X7. The followwg items still
require adjustment

(1) The accounts do not include a cost for electricity for November 20X7 which is expected to be $750

(2) The accounts include a payment of $780 for rent made on 1 July 20X7 the payment Is for the 12 months to
30 June 20X8

What is the net impact on profit when the appropriate adjustments are made for these items?

answer
1-Reduction of $295

2-Increase of $295

3-Reduction of $1,205

4-Increase of $425

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